Week kicks off positively! .... Consolidation areas

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Derek  16 Oct 2017


The week kicks off positively in the East this morning with Tokyo and HangSeng leading the pack.

I show the Nikkei and notice where MACD and FrontRunner broke up. MACD gave an excellent buy here.

Johnson Johnson moved like Australia for a long time between two resistance lines. It touched the top line again with a doji.

JSE Technical:
Investec Plc is also a share that is moving sideways for quite a while. Currently touching the bottom support.

Consolidation areas:
When a share is in a consolidation area, it usually breaks out with the same distance that it moved before it moved into this phase. See it on the Investec graph.

Enjoy your day.
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